If assets are relatively _____, and uncertainty is _____, transactions usually take place in markets.
A)specific; quite low
B)nonspecific; quite low
C)specific; quite high
D)nonspecific; quite high

Question

Quizplus · Accepted Answer

When assets are nonspecific (or general) and uncertainty is quite low, transactions are more efficiently and effectively handled in markets. This is because the assets can be easily traded or substituted, and low uncertainty reduces the need for complex contracts or negotiations.

If Assets Are Relatively _____, and Uncertainty Is _____, Transactions

If Assets Are Relatively _, and Uncertainty Is _, Transactions